Somaliland’s GDP increased by 10.6 percent from 2012 to 2017
Somaliland’s GDP amounted to 2,573 million USDollars in 2017, while GDP per
capita amounted to 675 US Dollars. The growth of real GDP, at constant 2015 prices,
was close to 11 percentfrom 2012 to 2017– an average annual growth rate of 2
percent. However, real GDP decreased by 1 percent in 2017 due to a substantial
decrease of exports of livestock.
Figure 1: Real GDP-growth 2013-2017, percent
Sources: CSD, 2017
The share of household final consumption expenditure of GDP was just below 100
percent for the years 2012-2014, then increasing to about 110 percent in 2017. The
share of gross fixed capital formation increased from 10 percent in 2010 to 18 percent
in 2017, while the share of exports decreased from 23 to 8 percent from 2012 to 2017.
Imports make up40-45 percent of GDP.
Exports amounted to 202 million US Dollars in 2017.The major export product is
live animals with a share of the total decreasing from 91 percent in 2012 to 73 percent
in 2017. The volume decreased by 45 percentfrom 2012 to 2017 due to a decrease by
51 percent of exports of live animals. Frankincense is also an important export
product. Expenditure by non-residents in Somaliland is recorded as exports of
services and account for 5-10 percent of the total.
Figure 6: Exports 2012-2017
Sources: CSD, 2017
Imports amounted to 1,154 million US Dollars in 2017 with the volume increasing
by 19 percent from 2012 to 2017. Consumer goods made up close to 50 percent of
imports with a share of food and beverages at 36 percent. Capital goods made up 39
percent of the total. The remaining 13 percent include industrial supplies and fuels.
Imports as recorded by the Somaliland Customs cover about 25 per cent of the
estimated total imports with shares of product groups as depicted in Figure 7b.
Full report can be found:http://www.somalilandcsd.org/somaliland ... 2012-2017/
